Wealth Management Partners LLC Takes Position in D-Wave Quantum Inc. $QBTS

Key Points

• Wealth Management Partners LLC purchased 16,405 shares of D-Wave Quantum Inc. (NYSE: QBTS) valued at approximately $240,000 in the second quarter.
• Analysts have provided positive outlooks for QBTS, with an average rating of "Buy" and a consensus price target of $19.27.
• Insider transactions included CFO John M. Markovich selling 50,000 shares for $815,000, resulting in a 3.03% decrease in his ownership stake.

Wealth Management Partners LLC bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,405 shares of the company's stock, valued at approximately $240,000.

Other large investors also recently bought and sold shares of the company. Reyes Financial Architecture Inc. purchased a new stake in D-Wave Quantum during the 2nd quarter worth approximately $29,000. Parallel Advisors LLC boosted its holdings in shares of D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock valued at $32,000 after acquiring an additional 1,532 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum in the 4th quarter valued at $26,000. Russell Investments Group Ltd. boosted its holdings in shares of D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock valued at $42,000 after acquiring an additional 3,165 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company's stock valued at $44,000 after acquiring an additional 2,971 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Buying and Selling

In related news, CFO John M. Markovich sold 50,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.30, for a total transaction of $815,000.00. Following the completion of the sale, the chief financial officer directly owned 1,599,511 shares in the company, valued at approximately $26,072,029.30. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John D. Dilullo sold 8,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the sale, the director owned 36,295 shares of the company's stock, valued at approximately $650,769.35. The trade was a 18.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,000 shares of company stock worth $2,937,740. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on QBTS. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a report on Wednesday, June 18th. Roth Capital reaffirmed a "buy" rating on shares of D-Wave Quantum in a report on Friday, June 13th. Wall Street Zen downgraded shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Benchmark reissued a "buy" rating and set a $20.00 price target on shares of D-Wave Quantum in a report on Monday, August 4th. Finally, Piper Sandler increased their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, According to MarketBeat, D-Wave Quantum presently has an average rating of "Buy" and a consensus price target of $20.27.

D-Wave Quantum Price Performance

Shares of NYSE QBTS traded up $1.97 during mid-day trading on Tuesday, reaching $27.64. The company's stock had a trading volume of 53,118,385 shares, compared to its average volume of 64,743,727. The stock has a 50-day moving average of $17.59 and a two-hundred day moving average of $13.67. The stock has a market capitalization of $9.45 billion, a P/E ratio of -26.21 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a 1-year low of $0.87 and a 1-year high of $27.46.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The business had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The company's revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.